The market seems to be selling-off on the back of limited bad news imo, apart from the dollar that is.

If you can hold your nerve and apart from any short term requirements to offload poor performing stocks, I have a couple!!, my advice would be sit tight. This does not have the feel of the tech(mining!) bubble at all. Difference being there are a lot of good fundamentals, unlike in 2000 when there were a lot of over rated nothing companies.

"Billionaire investor Warren Buffett could buy parts of Countrywide Financial Corp"

....Hang on son you might just pick them up a bit cheaper )-:

as comment commented ...... "choppy trading" ...... weaker, firmer, quite strongly firmer, drop off again etc etc ...... Fed announcements and similar traditionally come at about 19:15 UK time, so that may also apply here, if there is anything announced at all

Al , the whole picture on any of the charts looks like a 5th wave has formed and the game is up. However , it is possible that all the indices could drop to the lower less steep trendline(the one before oct 2006) and recommence the advance(this line is presently sitting at 11250 and if this went then it would be all over) .

if any of us could read the top or bottom correctly we,d be in the bahamas and not bullshitting here , correct :-))

or even just shitting - lol!

md - top and bottom picking is particularly tricky, but you just have to weight the odds at the time, I guess. All in all, my current guess is we have more downside than upside. I said the opposite in April 2003!! ;-))

Still, had my best day on the markets for a long time today thnaks to RAY, HAMP and a bit of a punt on UKX, although I didn't take full advantage of that one.

Dow is distinctly undecided, so my guess is that towards the end of trading it will turn negative as Bernanke's comments etc were clearly totally and intentionally neutral to opaque

i thought the question was are we in a bear market?

It is. ;-)

Currently our world runs on borrowings against house prices. Today's headline reads "Foreclosures jump 93 percent in July".

Does anyone really believe this will not affect future earnings? Hell, Wal-Mart, Macy's, etc have all downgraded guidance for the rest of this year.

NEW YORK (AP) - Shares of mortgage lenders climbed Tuesday on prospects for a Federal Reserve interest-rate cut and the possibility that Countrywide Financial Corp. could attract a buyout.

Mortgage lenders' stocks have fluctuated dramatically in the past few months and the ones that are not bankrupt still trade near multiyear lows.

The rest of the market has hardly leapt on this!!!!!

very happy to see a peaceful day on Wall Street with just a modest sell-off at the end, rather as expected

trading volumes very light in new york - seems like everybody is waiting

just been watching senator Dodd , seems they want to bail out everybody. shorts not a good idea this week

There is the BOJ decision first.............if the BOJ does not raise rates it will be very bullish.

You would expect the Fed at some to to lower rates, to allow us to get out of the summer months and into earnings figures in September with a bit of a rebound, then the natural dynamics will take over again imv.

having had the Fed cavalry ride to the rescue , it looks like the US indices are going to jump back above the uptrend line

apart from loking at L2 data prior to opening, what is the best place to look at stocks futures for LSE (e.g for tomorow?)

igmarkets.com

Flag - which way?